facebook
Traded Co logo
Submit
Daily limit: 0/10

Tower Capital Secures $47.4M Loan For Village At Mayfair Development Site

Property Image
FINANCED
$47,400,000

Texas

See Similar Deals
Development Site
Financed 06/04/2024
the dealdetailscomps
Property Image
FINANCED

Tower Capital Secures $47.4M Loan For Village At Mayfair Development Site

New Braunfels Trail

See Similar Deals
Development Site
Financed 06/04/2024
the dealdetailscomps

Summary

TEXAS
Asset Type:Development Site
Transaction Type:Loan

The loan transaction involved a development site located at 5450 IH 35N in New Braunfels, TX. Tower Capital secured a loan amount of $47,400,000 for the Village at Mayfair, a 217-unit build-to-rent community developed by Empire Group.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $47,400,000
  • Address: 5450 IH 35N
  • Market: New Braunfels, TX
  • Asset Type: Development Site
  • Landlord: Empire Group
  • Broker: Tower Capital

Tower Capital played a crucial role in securing the non-recourse construction financing for the development project. Empire Group, as the landlord, initiated the project for the Village at Mayfair, a 217-unit build-to-rent community, demonstrating significant investment and development initiatives in the New Braunfels market.

Details

FINANCED
IMAGE: 06/04/2024 ADDRESS: 5450 IH 35N MARKET: New Braunfels, TX ASSET TYPE: Development Site LANDLORD: Empire Group BROKER: Tower Capital LOAN AMOUNT: $47,400,000 NOTE: Tower Capital secured $47.4 million in non-recourse construction financing for Village at Mayfair, a 217-unit build-to-rent community in New Braunfels by Empire Group.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$47,400,000.00

Monthly NOI$316,000.00
Monthly Debt Service$299,600.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00